Higher Weekly Close Positive

12/01/2008 9:29 am EST

Focus: STOCKS

Thomas Aspray

, Professional Trader & Analyst

chart

Even though last week's holiday trading is somewhat suspect, the higher weekly close in the S&P 500 was encouraging. The momentum is still rising, but needs to move through its downtrend to turn positive. Still, major resistance is at 950-1000 with key support at 800.

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